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Insurance and Climate Action

 

Join us for a Lunch & Learn on Insurance and Climate Action on Tuesday 30th June at 12.30-13.30. This iWIN/WCI Cass Business School annual event - very pertinently positioned at the start of London Climate Action Week 2020 - is presented by Dr Bronwyn Claire of ClimateWise and Professor Paula Jarzabkowski of Cass Business School.

 

With their expertise in modelling and managing risk, insurers, and the insurance industry, need to be at the forefront of climate action. And yet climate action also presents challenges for the traditional insurance business model. In this session, we will consider the implications of climate change in terms of managing risks and capturing opportunities for investments. We will also examine the challenges and opportunities it presents for underwriting risk. This interactive session will be conducted via zoom, providing cutting edge content from our research and engaging participants with the topics raised.

 

Learning Objectives:

The overarching aim is to consider how Insurers can and do engage with Climate Action. Through this session you will

• Develop awareness of current climate change impacts and future trends that need to be incorporated into planning and strategies.
• Understand the main climate risk channels for the insurance sector
• Understand global regulatory developments for the sector relating to climate risk and opportunity
• Develop awareness of climate change impacts on the underwriting business model
• Consider how the insurance sector might adapt to take account of these changes
• Interact with peers and colleagues on these topics

 

 

Dr Bronwyn Claire leads ClimateWise, a group of 28 insurance industry members who are responding to the risks and opportunities of climate change. The ClimateWise Principles Independent Review 2019 was a milestone for ClimateWise members, representing the first year of reporting in full alignment with the TCFD and providing useful reflections on the challenges and opportunities for the industry in implementing TCFD recommendations. Last year ClimateWise also launched the Transition and Physical risk frameworks for assessing the impact of risks from climate change on infrastructure assets. Bronwyn joined CISL in 2018 from KPMG, where she worked with insurers and banks in Australia and Hong Kong to improve risk management and internal controls. Bronwyn began her career in environmental economics at the University of Western Australia, focusing her PhD on the incentives driving environmental sustainability.

 

 

Professor Paula Jarzabkowski is an expert in insurance and reinsurance markets, having lead international teams in studying different aspects of the global industry for many years. She has released a range of industry reports, Masterclasses, academic papers, and a widely acclaimed book on “Making a Market for Acts of God” with Oxford University Press in 2015. Her current research examines how Governments and Markets around the world are working together to address the growing threat of natural and manmade disaster. She is Co-Chair of the Expert Advisory Group for the UK government’s Centre for Disaster Protection, and on the OECD High-Level Advisory Board for the Financial Management of Catastrophic Risks. Professor Jarzabkowski’s research frequently features in industry and business media, and is used to inform policy. Her most recent reports: Between State and Market: Protection Gap Entities and Catastrophic Risk; and Insurance for Climate Adaptation: Challenges and Opportunities may be accessed on the Cass website.